Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Investment return and value will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. For most recent month-end performance, please see the following tab labeled “Performance”.

Morningstar Category:

Strategy Highlights

Initial portfolio position in any one holding is typically 0-3%; 5% maximum position size

Investment Strategy

Fund invests primarily in below investment grade fixed income securities and other securities that are expected to produce a relatively high level of income

May invest any portion of its assets in securities of Canadian issuers and up to 50% of its assets in other foreign securities, including emerging market securities

About Risk

Below investment grade fixed income securities may be subject to greater risks (including the risk of default) than other fixed income securities.

Fixed income securities may carry one or more of the following risks: credit, interest rate (as interest rates rise bond prices usually fall), inflation and liquidity.

Foreign and emerging market securities may be subject to greater political, economic, environmental, credit, currency and information risks. Foreign securities may be subject to higher volatility than US securities due to varying degrees of regulation and limited liquidity. These risks are magnified in emerging markets.

Currency exchange rates between the US dollar and foreign currencies may cause the value of the fund’s investments to decline.

Equity securities are volatile and can decline significantly in response to broad market and economic conditions.

Diversification does not ensure a profit or guarantee against a loss.

1 As of the most recent prospectus, the investment advisor has contractually agreed to waive fees and/or reimburse expenses once the expense cap of the fund has been exceeded. This arrangement is set to expire on 1/31/19. When an expense cap has not been exceeded, the fund may have similar expense ratios and/or yields.

2The 30-day SEC yield is a standardized calculation, calculated by dividing the net investment income per share for the 30-day period by the maximum offering price per share at the end of the period and annualizing the result. A subsidized 30-day SEC yield reflects the effect of fee waivers and expense reimbursements. The SEC yield is not based upon distributions of the fund and actual income distributions may be higher or lower than the 30-day SEC yield amounts. Unsubsidized 30-day SEC yield is calculated using the gross expenses of the fund. Gross expenses do not include any fee waivers or reimbursement.

The Bloomberg Barclays US Corporate High Yield Index covers the universe of fixed rate, non-investment grade debt. Eurobonds and debt issues from countries designated as emerging markets (sovereign rating of Baa1/BBB+/BBB+ and below using the middle of Moody’s, S&P, and Fitch) are excluded, but Canadian and global bonds (SEC registered) of issuers in non-EMG countries are included. Original issue zeroes, step-up coupon structures, 144-As and pay-in-kind bonds (PIKs, as of October 1, 2009) are also included. Indexes are unmanaged. It is not possible to invest directly in an index..

Gross Expense Ratio: (I) 0.68%; Net Expense Ratio: (I) 0.68% As of the most recent prospectus, the investment advisor has contractually agreed to waive fees and/or reimburse expenses once the expense cap of the fund has been exceeded. This arrangement is set to expire on 1/31/19. When an expense cap has not been exceeded, the fund may have similar expense ratios.

Lipper Ranking as of 7/31/2018

Class I

1 Year

138/666

3 Years

48/570

5 Years

45/472

10 Years

23/310

Lipper Category: High Current Yield Funds

Morningstar Ranking as of 7/31/2018

Class I

1 Year

147/689

3 Years

52/588

5 Years

48/492

10 Years

24/327

Morningstar Category: High Yield Bond

Lipper and Morningstar rankings are based on total returns calculated by each ranking entity. Rankings do not take into account sales charges, if applicable, but include reinvestment of dividends and capital gains, if any.

Performance data shown represents past performance and is no guarantee of, and not necessarily indicative of, future results. Total return and value will vary and you may have a gain or loss when shares are sold. Current performance may be lower or higher than quoted. Returns include changes in share price and reinvestment of dividends and capital gains, if any.

Portfolio composition statistics are from the adviser’s internal system and may not match the fund’s regulatory documents.

Credit Quality reflects the highest credit rating assigned to individual holdings of the fund among Moody’s, S&P or Fitch; ratings are subject to change. The fund’s shares are not rated by any rating agency and no credit rating for fund shares is implied. Bond credit ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest).

Portfolio composition statistics are from the adviser’s internal system and may not match the fund’s regulatory documents.

Credit Quality reflects the highest credit rating assigned to individual holdings of the fund among Moody’s, S&P or Fitch; ratings are subject to change. The fund’s shares are not rated by any rating agency and no credit rating for fund shares is implied. Bond credit ratings are measured on a scale that generally ranges from AAA (highest) to D (lowest).

Due to rounding, Sector, Currency, Country, Duration, Maturity and Quality distribution totals may not equal 100%.

Both duration and maturity for equity securities are deemed to be zero.

Before investing, consider the fund's investment objectives, risks, charges, and expenses. You may obtain a or a , if available, containing this and other information on this website. Read it carefully.